Palace confident of luring more investments into PHL

MANILA, July 24 (PNA) — Malacanang has expressed confidence that foreign investments will continue to flow into the country, encouraged by the growing economy.

Presidential Communications Operations Office (PCOO) Secretary Herminio Coloma Jr. stressed this amid concerns that investors might consider pouring in their money in other countries in the wake of the projected power problem here.

Coloma said there were already a number of ongoing energy projects in various stages of completion in Luzon, the Visayas and Mindanao even before Energy Secretary Jericho Petilla indicated the projected shortfall.

Based on projections of the Department of Energy (DOE), the PCOO chief earlier said there could be a possible shortfall of 200 megawatts between March and May of 2015.